Safran: completes acquisition of a Thales business
(CercleFinance.com) - Safran Electrical & Power announces that it has completed the acquisition of Thales' aeronautical electrical systems business, which covers conversion, power generation and electric motors for civil and military aircraft.
The business employs nearly 600 people and generated sales of E145m in 2022. The takeover follows exclusive negotiations that were announced in September 2022.
Business in France will be integrated into Safran Electrical & Power immediately. Meanwhile, that in the US and Singapore will be absorbed at the end of a transition period, during which the necessary certification approvals will be obtained.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The business employs nearly 600 people and generated sales of E145m in 2022. The takeover follows exclusive negotiations that were announced in September 2022.
Business in France will be integrated into Safran Electrical & Power immediately. Meanwhile, that in the US and Singapore will be absorbed at the end of a transition period, during which the necessary certification approvals will be obtained.
Copyright (c) 2023 CercleFinance.com. All rights reserved.